Confidence in the share has plummeted all of a sudden. But...

Confidence in the share has plummeted all of a sudden. But according to the writeup below, everything is alright with company save for the management shake-up.

Spin to greener pastures

THE spin-of-the-day award goes to gold producer Unity Mining. It calmly announced in a release to the ASX a ''management update'' before proceeding to reveal that both its managing director and chief financial officer were heading off to greener pastures.

So, in a sense, the company has no management on which to update. An insider acknowledged it was not wildly convenient to announce the departures of both managing director Rod Hanson and CFO Tim Churcher.

But there was nothing sinister in it all, we were assured. Hanson recently turned 60, which is as good a reason as you can get to reset your life ambitions. As for the younger Churcher, he has snaffled a position with a yet to be named opposition gold company.

The pair have been synonymous with Unity for the past five years or so. Unity used to be known as Bendigo Mining, which Hanson and Churcher did manage to get back into production at the Kangaroo Flat goldmine for a time after its earlier failures.

The company renaming tells you that Bendigo � I mean, Unity has very much moved on from Victoria. Make it an offer for the Kangaroo Flat mine on the outskirts of Bendigo if you've got some spare cash, because nothing else is happening there.

Unity's main go now is its Henty goldmine in Tasmania, a 30 per cent share of an African gold-focused company listed on London's AIM market and, last but not least, $48 million in cash.

Read more: http://www.smh.com.au/business/westpac-may-be-caught-betwixt-two-platforms-20110912-1k5yu.html#ixzz1Xmy5I8hG